Using bad credit furniture financing programs can be a positive experience if you know what to look for. We want to make sure you have all the tools you need to notice the marks of a good no credit needed financing option. Then we'll show you how to make sure you get the information you need to be successful. For us, we believe honesty and transparency lead to better success for both the customer and our business. So, here are the top 8 things you should know about financing furniture with bad credit.
What to Know About the Financing Company
- First, are they a separate company from the retailer? – This will help you know who you need to talk to about payments and buyouts. Plus, you'll know who to turn to when you have questions.
- Is the company offering a lease, loan, or credit? – They are different and will make a difference in how you pay, and how much they will end up charging you.
- What sets the company apart from other options? – Learn more about what makes Kornerstone the best option here.
Financing Furniture With Bad Credit: How to Make it Easier on Yourself
If You See The Number 888-521-5111, Answer It!
This is our number! So, if you see this pop up on your caller ID, it means we have something important to tell you. For example, we may want to ensure you aren’t getting overcharged. That's why you should make sure you answer, even if it’s just to tell us you’re busy. We can always work with you to find a good time to call back.
Understand that Your Contract With Kornerstone Credit is a Lease
This is good news! Because leases don’t operate on interest, the balance we tell you up front will not accrue interest at all. From this point forward, so long as you make your payments on time, your balance will only decrease. Just remember, there are additional fees for missed and bounced payments, so stay on top of those. Read more about what lease to own means here
Ask For a Copy of Your No Credit Needed Financing Documents
Ask for your contract and payment schedule. Most retailers should be giving this to you. Additionally, you should also be getting it through text and/or email when you sign up. So, when our agent calls you for the welcome call, and if you don’t have those documents yet, make sure you get a copy of both your lease agreement and your payment schedule.
Know That There are Early Buyout Options
You don’t have to take all 12 months to pay off your lease. You can take advantage of multiple buyout offers. Even if you can’t pay within the 90 days, we have other options for you to buy out the lease early with varying discounts. Since these buyouts are dependent on many factors such as current account status, state regulations, and time left on the lease, you should call our support team to get more personalized information.
Be Aware, Your First Payment Could Be as Soon as 5 Days From When You Sign Your Agreement
We set up payments once we get confirmation that you are in possession of all your purchased items. for instance, if you’re taking your purchase home the same day, then we’ll have a final payment schedule set up within 24 hours. We’ll give you a 5-day grace period where you won’t have any payments, but after those 5 days your first payment should be scheduled for the next time you receive income. However, don't take anything for granted! Call us to verify the correct pay date: 888-521-5111
If you follow this guide and make sure you ask the right questions, you'll be far better prepared for your lease. And that's what we want! Similarly, If you end up using a different financing option, you can adapt these same concepts to prepare yourself for whatever financing option you end up choosing. Either way, bad credit furniture financing can be a great experience if you take time to make it great. For a more complete guide on no credit needed furniture financing, click here